854.13 (4) (b) (title) Disclaiming a futureFuture interest. An instrument disclaiming a future interest shall be executed and delivered not later than 9 months after the event that determines that the taker of the property or interest is finally ascertained and his or her interest indefeasibly fixed, except that, for. For cause shown, the period may be extended by a court of competent jurisdiction, either within or after the 9-month period, for such additional time as the court deemsconsiders just.

854.13 (4) (e) Interests arising by disclaimer. Notwithstanding pars. (a) and (b), a person whose interest in property arises by disclaimer or by default of exercise of a power created by nontestamentarya governing instrument may disclaim at any time not later than 9 months after the day on which the prior instrument of disclaimer is delivered, or the date of death of the donee of the power, as the case may be.

188,50Section
50. 701.27 (5) of the statutes is renumbered 854.13 (5), and 854.13 (5) (a) (intro.), 1. and 2., as renumbered, are amended to read:

854.13 (5) (a) Delivery. (intro.) In addition to any requirements imposed by the creatinggoverning instrument, the instrument of disclaimer is effective only if, within the time specified under sub. (4), it is delivered to and received by any of the following:

1. The transferor of the property or interest disclaimed, if living;.

2. The personal representative or special administrator of the deceased transferor of the property; or.

854.13 (7) (a) Unless the transferor of the property or donee of the power has otherwise provided, the disclaimed property or interest disclaimed devolves as if the disclaimant had died before the decedent or before the effective date of the nontestamentarytransfer under the governing instrument; or if. If the disclaimant is an appointee under a power exercised by nontestamentary
a governing instrument, the disclaimed property devolves as if the disclaimant had died before the effective date of the exercise of the power; or if. If the disclaimant is a taker in default under a power created by nontestamentarya governing instrument, the disclaimed property devolves as if the disclaimant had predeceased the donee of the power. This paragraph is subject to subs. (8), (9) and (10).

(b) A disclaimer relates back for all purposes to the effective date of the nontestamentary
decedent's death or the effective date of the transfer under the governing instrument; or if. If the disclaimant is an appointee under a power exercised by nontestamentaryunder a governing instrument, the disclaimer relates back to the effective date of the exercise of the power; or if. If the disclaimant is a taker in default under a power created by nontestamentarya governing instrument, the disclaimer relates back to the last possible date for exercise of the power. A disclaimer of the future right to receive mandatory distributions of income or profits relates to the period stated in the disclaimer.

188,55Section
55. 701.27 (6) (c) of the statutes is renumbered 854.13 (10) and amended to read:

854.13 (10) (title) Future
Devolution of disclaimed future interest. Unless the instrument creating the future interest manifests a contrary intent either expressly or as construed from extrinsic evidence, a future interest limited to take effect in possession or enjoyment after the termination of the interest which is disclaimed takes effect as if the disclaimant had died before the effective date of the nontestamentarygoverning instrument or, if the disclaimant is an appointee under a power exercised by nontestamentarya governing instrument, as if the disclaimant had died before the effective date of the exercise of the power.

188,59Section
59. 701.27 (8) of the statutes is renumbered 854.13 (12) (a) and amended to read:

854.13 (12) (a) This section does not abridgeaffect the right of a person to waive, release, disclaim or renounce property or an interest in property under any other statute, the common law, or as provided in the creating instrument.

188,61Section
61. 702.03 (1) of the statutes is repealed and recreated to read:

702.03 (1) Unless a contrary intention is found, if a governing instrument, as defined in s. 854.01, creating a power of appointment expressly requires that the power be exercised by any type of reference to the power or its source, it is presumed that the donor's intention in requiring the reference was to prevent an inadvertent exercise of the power. Extrinsic evidence may be used to show contrary intent.

766.575 (3) (b) If within 14 business days after receiving the notice of claim the trustee receives, as purporting to support the claim, a decree, marital property agreement or proof that a legal action has been commenced, including a copy of an election filed pursuant to s. 861.03861.08 (1), to establish the validity of the claim, the trustee shall suspend distribution of the portion of the property to which the claim relates pending resolution of the validity of the claim.

766.58 (3) (f) Providing that upon the death of either spouse any of either or both spouses' property, including after-acquired property, passes without probate to a designated person, trust or other entity by nontestamentary disposition. Any such provision in a marital property agreement is revoked upon dissolution of the marriage as provided in s. 767.266 (1). If a marital property agreement provides for the nontestamentary disposition of property, without probate, at the death of the 2nd spouse, at any time after the death of the first spouse the surviving spouse may amend the marital property agreement with regard to property to be disposed of at his or her death unless the marital property agreement expressly provides otherwise and except to the extent property is held in a trust expressly established under the marital property agreement.

766.587 (6) Rights of surviving spouse. Notwithstanding the fact that an agreement under this section is in effect at, or has terminated before, the death of a spouse who is a party to the agreement, the surviving spouse may elect under ss.s. 861.02 (1) and 861.03. For the purpose of the election, in addition to the property described in s. 851.055, property acquired during marriage and after the determination date which would have been marital property but for the agreement is deferred marital property.

766.589 (7) Rights of surviving spouse. Notwithstanding the fact that an agreement under this section is in effect at, or has terminated before, the time of death of a spouse who is party to the agreement, the surviving spouse may elect under ss.s. 861.02
and 861.03. For the purpose of the election, in addition to the property described in s. 851.055, property acquired during marriage and after the determination date which would have been marital property but for the agreement is deferred marital property.

188,75Section
75. 766.61 (2) (c) 2. of the statutes is amended to read:

766.61 (2) (c) 2. If within 14 business days after receiving the notice of claim the issuer receives at its home office, as purporting to support the notice of claim, a decree, marital property agreement, written directive signed by the beneficiary and surviving spouse, consent under sub. (3) (e) or proof that a legal action has been filed, including a copy of an election filed pursuant to s. 861.03861.08 (1), to secure an interest as evidenced in such a document, the issuer shall make payment or take action on the policy after the issuer receives from a court or from the claimant and the person directing action or payment written documentation indicating that the dispute has been resolved.

188,78Section
78. 767.266 of the statutes is renumbered 767.266 (1) (intro.) and amended to read:

767.266 (1) (title) Revocation of nontestamentary disposition provisiondeath provisions in marital property agreement. (intro.) Unless the judgment provides otherwise, a judgment of annulment, divorce or legal separation revokes a provision in a marital property agreement under s. 766.58 which provides that provides for any of the following:

(a) That, upon the death of either spouse, any of either or both spouses' property, including after-acquired property, passes without probate to a designated person, trust or other entity by nontestamentary disposition.

767.266 (2)Revocation of revocable transfers at death. Unless sub. (1) applies, revocation of revocable transfers at death by a former spouse to the other former spouse, or to relatives of the other former spouse, under an instrument executed before the judgment of annulment, divorce or legal separation is governed by s. 854.15.

815.56 Sheriff's deed; grantee if purchaser dead. In case the person who would be entitled to a deed of real estate sold on execution dies before the delivery of that deed the sheriff shall execute a deed to the person's executors or administrators. The real estate so conveyed shall be held in trust for the use of the heirs or devisees of the deceased person, subject to the surviving spouse's right to elect under ss.s. 861.02 (1)
and 861.03, but may be sold for the payment of debts in the same manner as lands of which the person died seized.

851.065Devise. "Devise", when used as a noun, means a testamentary disposition of any real or personal property by will. "Devise", when used as a verb, means to dispose of any real or personal property by will.